Indiana Code 26-1-9.1-804. Effectiveness of action taken before July 1, 2013
(b) The amendments to this chapter made by P.L.54-2011 do not render ineffective an effective financing statement that, before the amendments to this chapter made by P.L.54-2011 take effect (July 1, 2013), is filed and satisfies the applicable requirements for perfection under the law of the jurisdiction governing perfection provided in this chapter as it existed before it was amended by P.L.54-2011. However, except as otherwise provided in subsections (c) and (d) and IC 26-1-9.1-805, the financing statement ceases to be effective:
Terms Used In Indiana Code 26-1-9.1-804
- Decedent: A deceased person.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Trustee: A person or institution holding and administering property in trust.
(2) if the financing statement is filed in another jurisdiction, at the earlier of:
(A) the time the financing statement would have ceased to be effective under the law of that jurisdiction; or
(B) June 30, 2018.
(c) The filing of a continuation statement after the amendments to this chapter made by P.L.54-2011 take effect (July 1, 2013) does not continue the effectiveness of a financing statement filed before the amendments to this chapter made by P.L.54-2011 take effect (July 1, 2013). However, upon the timely filing of a continuation statement after the amendments to this chapter made by P.L.54-2011 take effect (July 1, 2013) and in accordance with the law of the jurisdiction governing perfection as provided in this chapter as amended by P.L.54-2011, the effectiveness of a financing statement filed in the same office in that jurisdiction before the amendments to this chapter made by P.L.54-2011 take effect (July 1, 2013) continues for the period provided by the law of that jurisdiction.
(d) Subsection (b)(2)(B) applies to a financing statement that, before the amendments to this chapter made by P.L.54-2011 take effect (July 1, 2013), is filed against a transmitting utility and satisfies the applicable requirements for perfection under the law of the jurisdiction governing perfection as provided in this chapter as it existed before it was amended by P.L.54-2011, only to the extent that this chapter, as amended by P.L.54-2011, provides that the law of a jurisdiction other than the jurisdiction in which the financing statement is filed governs perfection of a security interest in collateral covered by the financing statement.
(e) A financing statement that includes a financing statement filed before the amendments to this chapter made by P.L.54-2011 take effect (July 1, 2013) and a continuation statement filed after the amendments to this chapter made by P.L.54-2011 take effect (July 1, 2013) is effective only to the extent that it satisfies the requirements of IC 26-1-9.1-501 through IC 26-1-9.1-527, as amended by P.L.54-2011, for an initial financing statement. A financing statement that indicates that the debtor is a decedent‘s estate indicates that the collateral is being administered by a personal representative within the meaning of IC 26-1-9.1-503(a)(2), as amended by P.L.54-2011. A financing statement that indicates that the debtor is a trust or is a trustee acting with respect to property held in trust indicates that the collateral is held in a trust within the meaning of IC 26-1-9.1-503(a)(3) as amended by P.L.54-2011.
As added by P.L.54-2011, SEC.23. Amended by P.L.6-2012, SEC.181.